Getting ready for funding
It’s important that audit reports are completed in the utmost detail to ensure that the information stated and recommendations provided are as accurate as possible, something Hilton-Baird Audit & Survey has spent more than a decade refining.
This was particularly necessary when a building maintenance business, whose growth potential was being restricted by its cash flow, instructed Hilton-Baird Audit & Survey to audit the company’s assets and systems in order to present the findings to potential finance providers.
Though the audit found the business’s repair services were being provided under complex insurance agreements, together with the company having a generally poor asset profile and the fact it operated in a high-risk industry, our expert team took everything into account and proposed that a confidential invoice discounting facility would be the most suitable facility to help the business achieve its goals whilst providing the least risk to prospective funding partners.
This was primarily due to the fact a receivables finance option best suited the business’s asset structure, whilst the company had the suitable systems in place to continue performing its own credit management. The audit also recommended many of the terms and conditions of the facility, including where the advance rate should be capped.
The result was that the business has since grown at a rate far beyond its initial expectation, with its funding partner providing funding at a comfortable level and with the necessary security in place.
If you would like to find out more about our auditing services, please call 0800 2761310 or email email@example.com.